Waterford Precision Cycles

What Waterford Precision Cycles does

Waterford Precision Cycles is a privately held custom bicycle frame manufacturer founded in 1993 by Richard Schwinn and Marc Muller, originally by taking over Schwinn's Paramount Design Group facility in Waterford, Wisconsin. The company is now headquartered in Durango, Colorado (844 East 4th Street) and operates as a division of Turtle Lake Fabrication Inc., which also controls Gunnar Cycles, Sanitas Cycles, and Fat Chance Bicycles. The current operating team is led by co-founders John Siegrist — a 40-year industry veteran who previously founded DEAN Titanium Bikes and designed for Merlin Metal Works, Ibis, and others — and his son David Siegrist.

Waterford builds each frame to a customer's individual geometry, riding style, and aesthetic preferences, offered across three material platforms: 22-Series stainless steel (KVA and Reynolds 931), 33-Series Reynolds 853 air-hardening steel, and 55-Series Reynolds butted titanium (3AL-2.5V), in both TIG-welded and lugged configurations. Frame prices start at $3,200 for TIG-welded Reynolds 853 and reach $4,850 for lugged stainless, with complete builds higher; lead times run 8-12 weeks for steel and 10-12 weeks for titanium. The technical differentiators rest on Reynolds 853's heat-affected zone hardening, custom lug selection, KVA/Reynolds 931 stainless with chromium-oxide corrosion resistance, and proprietary lanolin-based internal frame coating on the 33-Series.

Commercially, Waterford sells direct via waterfordbikes.com with phone/email consultation, distributes through an exclusive network of 12-15 stocking dealers worldwide, ships globally via specialized bike couriers, and offers in-person pickup at the Durango workshop. Supporting revenue programs include Affirm consumer financing (Ride Now. Pay Later), a Trade-Up Program offering up to $1,000 credit for legacy Waterford frames, and FleetVelo heritage restoration services for older Waterford and Gunnar bikes. The company pursues community-led growth through a Brand Ambassador Program, social media presence on Instagram and Facebook, and trade show participation, with the 2025 MADE Bike Show used as the platform for a brand relaunch featuring three new models.

Name

Waterford Precision Cycles

Legal name

Turtle Lake Fabrication Inc.

Website

https://waterfordbikes.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

1–10 employees

Short description

Waterford Precision Cycles is a US-based custom bicycle frame manufacturer building made-to-order steel, stainless, and titanium framesets priced from $3,200 to $4,850 for individual cycling enthusiasts worldwide, distributed direct-to-consumer and through an exclusive 12-15 dealer network.

Ownership category

akta.pro rank

Product category

Custom Bicycle Manufacturing

NAICS

Motorcycle, Bicycle, and Parts Manufacturing (336991)

SIC

Motorcycles, Bicycles & Parts (3751)

akta.pro primary industry

Frames, Chassis & Structural Components Manufacturing (IMACAOAG)

akta.pro secondary industries

Bike Parts & Components Retail (CRAMAHAB), Bike Service, Repair & Maintenance Shops (CRAMAHAH)

Keywords

• Custom bicycle frames
• Titanium bike frames
• Steel bicycle frames
• Handmade bicycles
• Custom frame building

Headquarters

HQ city

Durango

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Custom Frame Sales: Waterford builds custom bicycle frames to customer specifications. Frames are priced starting from $3,200 for Reynolds 853 steel (33-Series TIG welded) up to $4,850 for lugged stainless steel (22-Series Artisan). The company takes a non-refundable deposit ($500 for frame-only, $1,000 for complete builds) to secure production slots.
2. Complete Bicycle Builds: Waterford offers complete bicycle builds including frameset plus components. Builds include custom design consultation, professional assembly, and delivery. Lead times for complete builds are longer than frame-only orders depending on component availability.
3. Pre-Owned/Specialty Sales: Occasional sale of one-off products including uniquely sized, discontinued, or pre-owned bicycles. Example: Waterford 33-Series All-Road Showbike Frameset sold at special price of $2,500 (original $4,200).
4. Trade-Up Program: Customers can trade in old Waterford frames to receive up to $1,000 off a new Waterford bicycle, facilitating customer retention and upgrade purchases.
5. Affirm Financing: Waterford partners with Affirm to offer financing options ('Ride Now. Pay Later.') to help customers purchase bikes with flexible payment plans.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

Waterford Precision Cycles handcrafts custom steel and titanium bicycle frames for individual riders, offering fully customizable geometry, material selection (Reynolds 853 air-hardening steel, Reynolds 931 stainless steel, KVA stainless steel, or Reynolds 3AL-2.5V butted titanium), and TIG-welded or lugged construction. Each frame is built to order with customer-selected components, paint schemes, and finishes, with lead times of 8-12 weeks and frame prices ranging from $3,200 to $4,850. The company also offers complete bike builds, a Trade-Up program for existing owners, and frame restoration services through FleetVelo.

Product overview

Waterford Precision Cycles is a custom bicycle frame manufacturer offering five distinct product series differentiated by construction method (lugged vs. tig-welded) and frame material (stainless steel, Reynolds 853 steel, and Reynolds titanium). The 22-Series features stainless steel in both lugged and tig-welded configurations, the 33-Series uses Reynolds 853 air-hardening steel in both construction methods, and the 55-Series offers Reynolds butted titanium frames. Each series is built to custom geometry with customer-selected components, finishes, and specifications. The company also provides supporting services including a Trade-Up program for existing Waterford owners, restoration services through FleetVelo, an exclusive dealer network, and a brand ambassador program. Founded in 1993 and now headquartered in Durango, Colorado, Waterford operates as a custom build-to-order manufacturer with 8-12 week lead times.

Differentiator

Problem solved

Functional benefit

Brands

• 22-Series: Lugged or TIG-welded stainless steel custom frames featuring hand-selected KVA and Reynolds 931 stainless steel tubing.
• 33-Series
• 55-Series

Products and services

• 22-Series Artisan (Lugged Stainless Steel) Custom lugged stainless steel bicycle frames crafted with hand-selected KVA and Reynolds 931 stainless steel tubesets and custom lugs, prioritizing on-road comfort for long rides. Frame weight varies by sizing, tube specification, and lug choice. Starting at $4,850.
• 22-Series (TIG Welded Stainless Steel) Fully TIG-welded stainless steel frames using KVA and Reynolds 931 Butted Stainless Steel, offering lighter weight and geometry flexibility compared to lugged frames. Custom frame starting from $4,400.
• 33-Series Artisan (Lugged Reynolds 853 Steel) Custom lugged Reynolds 853 air-hardening steel frames joined with specially selected lugs, providing smooth yet extremely durable ride characteristics. Full Reynolds 853 tubing with reinforced joints through heat-affected zone hardening. Custom frame starting from $3,600.
• 33-Series (TIG Welded Reynolds 853 Steel) TIG-welded Reynolds 853 steel frames offering lightweight, strong, and comfortable ride at lower frame weight than lugged versions. Features air-hardening steel with joints that become stronger after welding. Custom frame starting from $3,200.
• 55-Series (Reynolds Butted Titanium) Custom titanium frames using double butted Reynolds titanium tubing with large tube diameters for strength-to-weight performance. Features 3AL-2.5V butted Titanium blend, fiberglass seat tube sleeves for galvanic corrosion prevention, and ceramic bead-blasted base finish. Custom frame starting from $4,600 with 10-12 week lead times.
• Waterford 33-Series All-Road Showbike Frameset One-off custom frameset featuring Reynolds 853 steel butted tubing, custom two-tone matte paint, internal/external cable routing, Di2 and AXS Wireless shift compatibility, T47 bottom bracket, and 142x12mm flat mount disc dropouts. Originally priced at $4,200, on sale for $2,500.
• Trade-Up Program Program allowing customers to trade in older Waterford frames for up to $1,000 credit toward a new Waterford bicycle purchase.
• Restoration Services Frame restoration services including refinishing, touch-up paint, historic decals, and paint code matching for older Waterford and Gunnar bicycles, operated through FleetVelo by Richard Schwinn.

Quantifiable outcome

• Frame weights as low as 2.5 lbs for titanium frames
• +3 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Six partnerships are on record, tiered core and supporting.

• FleetVelocoreStrategic or Co-development PartnerFleetVelo is operated by Richard Schwinn and provides serial number lookup services for Waterford and Gunnar bicycles. Customers can purchase historic decals, touch-up paint, find paint codes, and access original geometry and build specifications through the FleetVelo platform.
• AffirmsupportingGTM or Marketing PartnerAffirm provides financing options for Waterford customers through their 'Ride Now. Pay Later.' program, offering flexible payment plans to help customers purchase bikes.
• Dark Matter FinishingTechnology or IntegrationCustom frame refinishing and painting services partner that Waterford showcases for frame restoration work.
• Reynolds TechnologycoreTechnology or IntegrationWaterford uses Reynolds tubing exclusively for their frames including Reynolds 853 steel, Reynolds 931 stainless steel, and Reynolds titanium. Reynolds Technology provides the specialized air-hardening and stainless steel tubing that enables Waterford's performance characteristics.
• KVA StainlesscoreTechnology or IntegrationKVA stainless steel is used alongside Reynolds stainless in Waterford's 22-Series frames, providing the martensitic precipitation-hardening stainless tubesets.
• Dark Matter FinishingsupportingTechnology or IntegrationPartner for custom frame refinishing and painting services, showcased on Waterford's Instagram for beautiful restoration work.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Stinner Frameworks: California-based custom steel and titanium frame builder with similar artisan positioning, custom geometry process, and premium pricing targeting enthusiast cyclists.
• Moots Cycles: Colorado-based custom titanium and steel frame builder with premium pricing, dealer network, and similar handmade craft positioning. Highly comparable to Waterford's 55-Series titanium and 22-Series stainless offerings.
• Vanilla Bicycles: Portland-based custom steel frame builder using premium tubing (including Reynolds) with handmade construction and similar enthusiast customer base. Directly comparable in craft-led custom steel frame category.
• Seven Cycles: Massachusetts-based custom titanium and steel bicycle manufacturer with build-to-order model, lifetime warranty, and similar premium enthusiast customer base. Direct peer in custom frame manufacturing category.
• Ti Cycles: Portland-based custom titanium frame builder serving road, gravel, and mountain segments with similar build-to-order process and premium pricing tier comparable to Waterford's 55-Series.
• Chumba USA: Custom steel and titanium frame manufacturer producing gravel, road, and mountain bikes with direct-to-consumer and dealer sales. Comparable in materials, price point, and craft positioning.
• Hampsten Cycles: Custom steel and titanium frame builder with touring and road focus, comparable handmade production model and premium price point for discerning cyclists.
• Independent Fabrication: US-based custom bicycle manufacturer offering bespoke steel and titanium frames with similar build-to-order model, premium pricing, and dealer network structure. Closest direct peer to Waterford in segment, materials, and customer base.
• Bishop Bikes: Custom bicycle frame builder specializing in steel and stainless steel lugged construction, with similar premium pricing and traditional craftsmanship approach as Waterford's Artisan series.

Regional players

• Gunnar Cycles: Sister brand under the same parent company (Turtle Lake Fabrication Inc.), offering steel and titanium frames. Closely related via shared ownership, FleetVelo restoration platform, and Schwinn lineage but positioned at slightly different price points and use cases.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/waterfordbikes
• Instagraminstagram.com/waterfordbikes
• LinkedInlinkedin.com/company/waterford-precision-cycles

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Waterford Precision Cycles